Farmington Hills, MI Real Estate
According to census data in the year 2000 there were 34,858 housing units in Farmington Hills.
This represents a 11.8% growth from 31,171 in 1990.
Of those housing units, 34,858 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Farmington Hills is about 66.8%.
Farmington Hills's vacancy rate, including seasonal lodging, is about 3.7%.
Average household size is 2.41 people.
The majority of houses, apartments or condos in Farmington Hills were built after 1976.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 1.70% |
| One Bedroom | 15.90% |
| Two Bedrooms | 26.40% |
| Three Bedrooms | 27.40% |
| Four Bedrooms | 26.20% |
| Five Bedrooms or more | 2.40% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.74 |
| Median year structure was built | 1974 |
| Median Value of occupied units | $227,300 |
| Median Price asked for vacant units | $199,300 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.73 |
| Median year structure was built | 1979 |
| Median Monthly Rent asked for vacant units | $818 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.30% |
| Second Mortgage | 4.40% |
| Home Equity Loan | 13.80% |
| Simple Mortgage | 60.10% |
| Debt Free | 21.30% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 18.3% |
